SunTrust Banks Comments on Comcast Corporation’s Q3 2018 Earnings (CMCSA)
Comcast Corporation (NASDAQ:CMCSA) – SunTrust Banks increased their Q3 2018 earnings per share estimates for Comcast in a report released on Wednesday. SunTrust Banks analyst G. Miller now forecasts that the cable giant will post earnings of $0.55 per share for the quarter, up from their prior forecast of $0.53. SunTrust Banks also issued estimates for Comcast’s FY2018 earnings at $2.14 EPS, Q1 2019 earnings at $0.56 EPS, Q2 2019 earnings at $0.59 EPS, Q3 2019 earnings at $0.60 EPS and FY2019 earnings at $2.35 EPS.
Comcast (NASDAQ:CMCSA) last announced its quarterly earnings results on Thursday, October 26th. The cable giant reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.03. Comcast had a return on equity of 17.17% and a net margin of 11.99%. The company had revenue of $20.98 billion during the quarter, compared to the consensus estimate of $21.05 billion. During the same period in the prior year, the company earned $0.92 earnings per share. The company’s revenue for the quarter was down 1.6% compared to the same quarter last year.
Shares of Comcast (NASDAQ CMCSA) opened at $37.95 on Monday. Comcast has a fifty-two week low of $34.12 and a fifty-two week high of $42.18. The stock has a market capitalization of $177,369.61, a PE ratio of 18.83, a price-to-earnings-growth ratio of 1.81 and a beta of 1.01. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 1.06.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Wednesday, January 3rd will be issued a dividend of $0.157 per share. The ex-dividend date of this dividend is Tuesday, January 2nd. This represents a $0.63 annualized dividend and a yield of 1.65%. Comcast’s payout ratio is currently 30.36%.
In related news, EVP Arthur R. Block sold 4,091 shares of Comcast stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $38.36, for a total transaction of $156,930.76. Following the completion of the sale, the executive vice president now directly owns 68,478 shares of the company’s stock, valued at approximately $2,626,816.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Kenneth J. Bacon sold 2,232 shares of Comcast stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $37.27, for a total value of $83,186.64. Following the sale, the director now directly owns 24,580 shares of the company’s stock, valued at $916,096.60. The disclosure for this sale can be found here. Company insiders own 1.28% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Kahn Brothers Group Inc. DE increased its stake in shares of Comcast by 65.4% in the 1st quarter. Kahn Brothers Group Inc. DE now owns 27,017 shares of the cable giant’s stock valued at $624,000 after purchasing an additional 10,687 shares during the last quarter. Insight Capital Research & Management Inc. bought a new position in shares of Comcast in the 1st quarter valued at $753,000. Mutual of America Capital Management LLC increased its stake in shares of Comcast by 139.7% in the 1st quarter. Mutual of America Capital Management LLC now owns 679,346 shares of the cable giant’s stock valued at $25,537,000 after purchasing an additional 395,902 shares during the last quarter. Intellectus Partners LLC increased its stake in shares of Comcast by 72.3% in the 1st quarter. Intellectus Partners LLC now owns 15,480 shares of the cable giant’s stock valued at $582,000 after purchasing an additional 6,494 shares during the last quarter. Finally, Stevens Capital Management LP increased its stake in shares of Comcast by 1,392.2% in the 1st quarter. Stevens Capital Management LP now owns 696,476 shares of the cable giant’s stock valued at $26,181,000 after purchasing an additional 649,800 shares during the last quarter. Hedge funds and other institutional investors own 82.50% of the company’s stock.
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Comcast Company Profile
Comcast Corporation is a media and technology company. The Company has two primary businesses: Comcast Cable and NBCUniversal. Its Comcast Cable business operates in the Cable Communications segment. Its NBCUniversal business operates in four business segments: Cable Networks, Broadcast Television, Filmed Entertainment and Theme Parks.
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